Upset investors turn up at Speakers' Corner

Upset investors turn up at Speakers' Corner
By Imelda Saad, Channel NewsAsia

SINGAPORE: More than 1,000 people, who lost hard-earned savings investing in structured products like Lehman Minibonds and DBS High Notes, turned up at the Speakers' Corner on Saturday evening.

They were there to listen to former CEO of NTUC Income, Mr Tan Kin Lian, who has submitted a petition to the Monetary Authority of Singapore (MAS) to request for an investigation into the sale of credit-linked securities.

Many in attendance were upset investors who claimed they had lost their retirement savings through failed investments.

Mr Tan is asking the authorities to investigate if these products were sold according to the law, and to help investors claim compensation for losses caused by misconduct.

He said: "It's an opportunity for the investors of the Minibonds and the High Notes to get together and meet other investors. I hope they would be able to get together to see their Member of Parliament or even to appoint a lawyer, and see how to complain about the bank or investor who had sold them this product."